Radiocor News

US futures becalmed ahead of more earnings, Fedspeak

DJIA futures up 26 points (Il Sole 24 Ore Radiocor) - New York, 07 May - US futures were little changed as investors pored over more earnings and awaited further comments from central bank policymakers on the possible direction of interest rates.

Wall Street closed higher yesterday, buoyed by gains in the technology sector with the Dow in the green for the fourth straight session, up 0.5%. The S&P 500 rose 1% while the tech-heavy Nasdaq ended 1.2% higher.

In a week light on data, investors are keeping a close eye on a string of events featuring Federal Reserve officials to get clues on where monetary policy may be heading in the coming months.

Yesterday, Richmond Fed President Tom Barkin reiterated the message the central bank wants to be more confident inflation is moving sustainably toward its 2% target before lowering rates. 'And given a strong labor market, we have time to gain that confidence," he said.

Last Friday's softer-than-expected jobs report buoyed market sentiment, fuelling two days of solid growth for stocks.

Minneapolis Fed chief Neel Kashkari is due to appear at an event later today.

The earnings season meanwhile ploughs ahead with Disney results already on deck and Lyft and Reddit due after the close.

Disney shares fell more than 6% in premarket trade as investors digested its quarterly update while shares in Palantir slumped nearly 12% after it unveiled a disappointing outlook for annual sales.

Futures on the Dow Jones were up 26.00 points, or 0.07%, S&P 500 futures were unchanged, while futures on the Nasdaq were 35.25 points, or 0.19%, lower.

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(RADIOCOR) 07-05-24 13:47:30 (0494) 5 NNNN

 


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